1. India Market Summary for the week ended 22-11-2013
I Review of the Week
Market review for the week ended 22 November 2013
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Market drifts lower in choppy trade on Fed taper worries during the last week.
After starting the week on a strong note, Indian stocks lost steam during later
part of the week after the minutes from the Federal Reserve's last meeting
signalling US stimulus may be reduced in coming months.
The US central bank currently buys bonds worth $85 billion a month in a bid to
hold interest rates low and encourage economic growth in the world's biggest
economy. Fed's bond-buying program has been a source of liquidity for most
Asian and emerging markets this year.
Market dropped in three out of five trading sessions. Sensex and Nifty, both,
reached their lowest closing level on over a week.
Nifty fell below the psychological 6,000 mark.
Sensex lost 0.89% to 20,217.39 and Nifty dropped 1% to 5,995.45 in the week
ended Friday, 22 November 2013.
From the 30-share Sensex pack, 19 stocks fell and eleven rose in the week

2. India Market Summary for the week ended 22-11-2013
Government Policies during the week
• RBI said it would focus on the monitoring of banks' asset quality and help improve the
poor debt recovery process in the country. The focus on asset quality comes as bad debts
at Indian banks have nearly doubled since 2009 to 4.2% of total loans at the end of
September, while debt restructuring is also at a record high. The RBI said the situation
required "priority attention
Economic data
• The rating agency said that India's economy has not lost much momentum, with both
agriculture and exports remaining resilient and providing a cushion. Fitch therefore
expects the economy to recover with real GDP forecast to rise 4.8% in FY 2014 (financial
year ending March 2014) and 5.8% in FY 2015, compared with a 5% rise in FY 2013
• India's budget remains under pressure as the central government's (CG) fiscal deficit in
the first six months of FY 2014 stood at 76% of the full-year target, Fitch said.
• The authorities have indicated that they are still committed to lowering the fiscal deficit to
4.8% of GDP (versus 4.9% in FY 2013). To achieve this, the CG is likely to clamp down
heavily on expenditures in 2H FY 2014.
• Fitch rates India at "BBB-minus", the lowest investment grade rating. It revised its
outlook for the country to "stable" from "negative" in June

3. Corporate Announcements
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ITC dropped 1.94%. Reliance Industries (RIL) shed 0.92%.
ONGC advanced 2.94%. ONGC's wholly owned subsidiary ONGC Videsh (OVL) after market hours on Thursday, 21
November 2013, announced that it has on 20 November 2013 signed Memorandum of Understanding (MoU) with
Petrovietnam to promote the joint cooperation in hydrocarbon sector in Vietnam, India and other countries. This MoU is in
furtherance to the agreement signed between OVL and Petrovietnam on 12 October 2011. Under the MoU, Petrovietnam has
offered 5 blocks to OVL. OVL would assess these blocks and if these are of interest, it would make a proposal to
Petrovietnam.
HDFC Bank rose 0.07%. State Bank of India rose 1.04%
ICICI Bank lost 2.69%. ICICI Bank early this week said that the bank acting through its Dubai branch, priced an issuance of
5.5 year fixed rate notes of an aggregate principal amount of $750 million. The notes were sold under the Rule 144A/Reg S
format. The notes carry a coupon of 4.8% and were offered at an issue price of 99.609.
Most metal stocks edged higher. Tata Steel (up 4.45%), Hindalco Industries (up 2.69%), and Jindal Steel & Power (up
3.89%) rose. But, Sesa Sterlite tumbled 8.74%. The stock was the biggest loser from the Sensex pack.
Auto stocks were mixed. Maruti Suzuki India rose 1.95%. M&M gained 0.93%. Shares of two-wheeler makers declined.
Hero MotoCorp (down 3.05%) and Bajaj Auto (down 6.85%) fell.
Tata Motors dropped 3.29%. Tata Motors' British luxury car unit Jaguar Land Rover (JLR) on Wednesday, 20 November
2013, said it will enhance its research and product development on future vehicle infotainment technologies through a new
collaboration with Intel and the opening of a new Technology R&D centre in Portland, Oregon. JLR's new research facility
on the West Coast will help lead the development of future vehicle infotainment systems and will be responsible for
collaborative work with a number of technology partners, JLR said in a statement. The location of the centre has been chosen
for its proximity to the technology industry hubs in Silicon Valley and Seattle, where JLR has been developing collaborative
partnerships with the world's leading IT businesses and creative and technical talent.
Capital goods pivotals gained on renewed buying. L&T rose 2.61%.
BHEL rose 0.96%. Bhel said that it has received a major order from NTPC for supply and installation of the main plant
package for a power project in Uttar Pradesh, involving one thermal power generating unit of 500 megawatts (MW). Valued
at Rs 1300 crore, the order for the supply and installation of the steam generator, steam turbine generator and electrics
package for the upcoming 500 MW Feroze Gandhi Unchahar Thermal Power Project (TPP), was received from NTPC BHEL
Power Projects (NBPPL), a joint venture between NTPC and Bhel.
NTPC declined 1.41%. The company said that its Farakka Super Thermal Power Station in West Bengal had started the
movement of imported coal by barges through inland waterway.
Pharma stocks declined. Dr Reddy's Laboratories (down 0.95%) and Sun Pharmaceutical Industries (down 4.07%)
declined.
Cipla fell 4.78%. The company said that Meditab Holdings (MHL), a wholly owned step down subsidiary of the company,
has acquired an additional 14.5% stake in Quality Chemical Industries (QCIL), Uganda for a consideration of $15 million

4. India Market Summary for the week ended 22-11-2013
Top Gainers and Losers of the week (NSE)
PRICE ON
COMPANY
TATA STEEL
JINDAL STEEL
CAIRN INDIA
ONGC
HINDALCO
PRICE ON
Nov 22, 2013
(Rs)
392.45
248.65
327.05
278.2
118.4
Nov 14, 2013
(Rs)
375.35
238.65
317.45
270.1
115.2
PRICE ON
COMPANY
SESA STERLITE
BAJAJ AUTO
CIPLA
SUN PHARMA #
HERO MOTOCORP
PRICE ON
Nov 22,
2013 (Rs)
174.35
1,889.35
385
574.95
1,975.65
Nov 14,
2013 (Rs)
190.85
2,034.80
403
598.75
2,049.05
CHANGE
(%)
4.60%
4.20%
3.00%
3.00%
2.80%
CHANGE
(%)
-8.60%
-7.10%
-4.50%
-4.00%
-3.60%

5. India Market Summary for the week ended 22-11-2013
II Forth coming week
Government policies / announcements
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Mizoram assembly elections under revised schedule will take place on
Monday, 25 November 2013
The assembly polls in Madhya Pradesh are also being held on Monday, 25
November 2013
The Winter Session of Parliament will be held from December 5 to 20
Economic data
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Government will announce Q2 September 2013 GDP data on Friday, 29
November 2013.
Markit Economics will unveil HSBC India Manufacturing PMI, which
gauges the business activity of India's factories, for November 2013 on 2
December 2013.
Markit Economics will unveil the result of a monthly survey on the
performance of India's services sector for November 2013 on 4 December
2013.

6. India Market Summary for the week ended 22-11-2013
Market outlook
 The market may remain volatile in the week ahead as traders roll over positions
in the futures & options (F&O) segment from the near month November 2013
series to December 2013 series.
 The near month November 2013 derivatives contract expire on Thursday, 28
November 2013.
 Investors will closely watch macro data points from the US for cues on when
the US central bank might decide to reduce its stimulus program.
 The minutes of the Federal Reserve's October meeting minutes released on 20
November 2013 signaled the central bank is on track to slow down its $85
billion a month bond bond-buying program that has boosted the equity market.
However, at a confirmation hearing last week, Janet Yellen, the nominee to lead
the Fed, defended the central bank's aggressive bond-buying program, known as
quantitative easing or QE, and tried to ease concerns that bubbles were forming
in the equity markets.
 The US central bank currently buys bonds worth $85 billion a month in a bid to
hold interest rates low and encourage economic growth in the world's biggest
economy. Fed's bond-buying program has been a source of liquidity for most
Asian and emerging markets this year

7. India Market Summary for the week ended 22-11-2013
Sector Outlook
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Credit rating agency Moody’s latest report says Asian
credit is stable despite strengthening headwinds like a
possible Fed taper anytime soon. The rating agency
Fitch said that India's economy has not lost much
momentum, with both agriculture and exports remaining
resilient and providing a cushion
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Investors can buy Britannia Industries and Cairn India
at declines

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